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Bank Austria Rethinks Expansion in Hungary
The subsidiary of Italian UniCredit reviews its activities in the country. A withdrawal is not ruled out.
Bank Austria Rethinks Expansion in Hungary / Picture: © Vindobona.org
Bank Austria, which is responsible for the UniCredit Group’s business in Central and Eastern Europe, will rethink its “ambitious expansion plans” for Hungary. The country’s Parliament has recently adopted a law that allows borrowers to convert foreign currency loans at the expense of banks.
“We want to grow organically in Hungary”, stated Gianni Franco Papa, Head of…
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